Rolls-Royce has announced its intention to acquire Scandinavian Electric Holding, a supplier of packages for hybrid and diesel-electric marine propulsion systems.
Rolls-Royce will purchase 100 per cent of the equity of the company for £43m in cash subject to regulatory approval from the Norwegian competition authorities. The company will then form part of the Rolls-Royce marine business.
The acquisition is expected to increase the sales of Rolls-Royce ship design and equipment packages, especially in the offshore sector, by adding new electrical, automation and control capabilities.
Scandinavian Electric Holding currently employs 150 people, in Bergen, Norway, and Gdansk, Poland, and recorded sales of £40m in 2007. It has a current order book of £100m.
The company undertakes system design and engineering, testing and commissioning. It also manufactures some of the switchboards, instrumentation and power management system elements for the systems it sells.